Second Place: "Watching Pershing Securities...". and at time of posting Tuesday, that house was propping RLG at 19 and 19.5. It closed the week at 16c. Further downside to come from this moose pasture scam pumped by Scott Gibson and CEO.ca to the idiot end of the market.

12/9/16

When it's a Friday afternoon NR on drill results, you know it's not going to be the most sparkling news event of all time. And when all Millrock (MRO.v) can muster is a paragraph like this...

The best intersections were from hole 16-04 which returned 4.0 meters
grading 0.69 grams per tonne gold and hole 16-09 which returned 6.3
meters grading 0.185 grams per tonne gold.

...the only thing left to do is applaud the company for getting the news out before the closing bell, rather than after it. The next bit was about how "Millrock and Centerra are evaluating options for further exploration of the Los Chinos property". Guess what that really means?

In theory at least it's the right time in the cycle for an all-cash buyout.

The fit is a reasonably good one, both on production and geopol risk terms.

When I read the NR this morning I thought it a good deal and it turned out that I wasn't alone, with one industry pal calling it "probably the most logical/stable deal on the table in 2016".

But none of that stopped Sibanye (SBGL) from dropping 15% at the open this morning:

It's a tough market for mining M&A right now, worth keeping that in mind. Here's how the NR kicked off:

LITTLETON,
Colo., Dec. 9, 2016 /PRNewswire/ -- Stillwater Mining Company
("Stillwater" or "the Company"; NYSE: SWC) today announced that it has
entered into an agreement with Sibanye Gold Limited ("Sibanye"; JSE:
SGL; NYSE: SBGL), under which Sibanye will acquire Stillwater for $18.00
per share in cash representing an aggregate enterprise value of $2.2
billion. The $18.00 per share transaction price represents a 61% premium
to Stillwater's volume-weighted average share price over the 52 weeks
prior to the announcement of the transaction, a 25% premium to its
volume-weighted share price over the 30 trading days prior to the
announcement and a 23% premium to its closing share price on December 8,
2016. The transaction also represents a 14.0x multiple of IBES
consensus 2017 EBITDA1 estimate.

Following
a thorough review of Stillwater's strategic opportunities, including a
process in which over 20 parties were contacted, the Company's Board of
Directors has unanimously approved the transaction.continues here

You know all that hoopla and "isn't Argentina wonderful?" stuff we got from the rah-rah boys about Argentina under Macri, and you remember how his decision to repeal the export tax on mining was the Best. Thing. Ever? Well last night the lower house of congress (deputies) voted to re-install that very tax. It's a bill that needs to get past the upper house (senate) and then not be vetoed by Macri himself before it becomes law, but even if it doesn't prosper it's a serious shot across Macri's bows for the mid-term elections of next year.

When it comes to Argentina and mining, fools rush in where angels fear to tread (not that I'm particularly angelic, mind you).

12/7/16

Here's an idea that sprang from an conversation with a pal but before going any further, let's make it clear that even though IKN is an equal opportunities blog and is fully down with all things equality, for purposes that should become clear the focus group for this futures market is heterosexual males. It has to be this way.

The concept is simple enough; In our world of insincerity and constant two-facedness, there's a near obligatory duty to kiss the ass of people during your working day. It could be your boss, your colleague, your customer, your supplier or any number of other labour workday contacts, but whoever it might be there's that need to plaster on a smile and talk pretty to them at some point in order to keep them onside, no matter how you might truly feel about the jerkoff in question.

With this in mind, we reach stage one. Imagine if you will this situation:

In such a case you can simply cut out the middleman by sending the following mail to person X:

"PLEASE BLOW PERSON Y"

In one fell swoop you have just simplified your day without adding to the workload of person X or affecting the day of person Y.

Or another situation: You have done a good piece of work and two people behest to you feel the need to congratulate you (even though deep down they hate your guts and you know it). In such a situation you write a simple mail, CC'd to both people:

"PERSON X AND PERSON Y, PLEASE BLOW EACH OTHER"

Once again, your day is simplified with no detriment to the others in the equation.

In fact, the logic of the blowjob clearing house is so compelling that the concept can be easily expanded. Assuming blowjobs are fungible in nature, an exchange could be set up where one could buy blowjob futures (contract code FEL8) at which a person who needs to suck up to boss/customer/whoever just goes to, buys a blowjob futures contract and sends it to the target as a promissory note. The amount of time such a system would save the business world is incalculable! It would be one of the greatest innovations in productivity of the 21st century. The only thing to remember is to cancel out your futures contract before its expiry date, because if not the delivery day will be a bastard.

...desperately trying to prop up the share price of the Moose Pasture peddlers West Red Lake Gold (RLG) after that company's disastrous drill assay results news release this morning is the most fun a number-nerd like me can have on a Tuesday morning.

Scott Gibson is either sweating hard on his shares or he's sold already. I'd bet the latter, he may be morally challenged but unlike the retail saps pumping this dog on CEO.ca he's smart about the market.

12/5/16

As from January 2nd 2017, the new CEO of Buenaventura will be Victor Gobitz, poached from Peru's Milpo to take over the running of Peru's biggest gold mining company (that does plenty of silver and copper, too). In this Spanish language interview Roque B explains the reasons behind the change, but as he's staying on as President and the Benavides family holds all the Class A voting shares, don't expect a sudden change in corporate policy or think for a minute that BVN is now a buyout candidate. It isn't.

I really don't know which is more surreal, the Argonaut Gold (AR.to) CEO comments today on the drill results at their marginal junk Magino property (for which they seriously overpaid a few years ago and have constantly refused to admit it)...

"Pete Dougherty, President and CEO commented: "We liken the Magino
deposit to a large river of low-grade mineralization with higher-grade
fish swimming within it. In keeping with this analogy, by tightening the
drill spacing to 10 to 12 metres we have been able to define additional
high-grade fish."

A few thoughts on the latest goings on at Robert Friedland's monster marketing vehicle. No, not the silly graves thing, but something that can really affect the stock price. From The IKN Weekly issue 394, out last night:

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Ivanhoe
Mines (IVN.to): Once again this Friedland company is making the biggest news splashes
in the exploration copper sector, but this time for a deal that can easily be
called controversial. I’m a little late to this due to the travels and that,
but I’d like to say something today because this issue got a few of our juices
flowing last week. I shall explain.

On November 18th IVN
announced (9) that it and its partner Zijin were giving an extra 15% of the
Kamoa-Kakula copper project to the host country, the Democratic Republic of
Congo (DRC) (insert irony joke), bringing its participation to 20% (with Zijin
and IVN on 40% each, give or take a tenth or so). This report (10) in Mining
Journal gives the Robert Friedland polished quote space

“This is a historically significant event for the people of
the Democratic Republic of Congo,” he said.

“We now are united as partners committed to working closely
together toward our shared objective of ensuring that the major copper
discoveries we have made at Kamoa and Kakula during the past eight years can be
predictably, efficiently and expeditiously developed into a world-scale mining
venture with a lifespan of multiple generations.”

But the grumblings and rumblings
got louder, so on Monday November 28th (i.e. last week) IVN held a
Conference Call (11) to explain about recent company developments and it was
one of the phrases used by the company in the CC, about how the deal to hand
over this large slug of Kamoa-Kakula would “safeguard” its future, that got the
hackles up of certain people a little group to which your humble scribe
belongs, a bunch of five or six reprobates who can collectively be called
“mining professionals” (even I just about scrape in on that qualification these
days). It started with one of them sending a group mail entitled “DRC Rolls
Friedland”, it continued after November 28th with another asking the
difference between this deal and a bribe (e.g. “no 20%, no permits”), then IVN
was semi-defended by a couple of others on the string. I’m not in a position to
quote any of my friends but I can reproduce here my additions to the debate.
Here’s the first (grammar brushed up very slightly)

“Aside
from any precedent set, this deal doesn't safeguard a thing inside IVN's suite
of assets in DRC, including the one that's just been safeguarded.

There is a difference between a bribe for a specific
permit or "consultancy fee" and this, because the DRC
"safeguard" is legal, but only because the country makes the laws! [Name]
is 100% correct, this is a shakedown, extortion, blackmail, call it what you
will. And if there's one constant about blackmailers over the course of history,
it's that they'll never just shake you down once; when on the hook the victim
will pay, pay and pay again.”

In other words, I too believe DRC
is taking “Resource Nationalism” to a whole new level. The subject then turned
to the difference between “legal” and “illegal” bribery, for example the US
lobbying system in which it’s perfectly legal to give a large sum of money to a
politician and in return expect tacit support for your cause. The thing is,
what’s going on in DRC now isn’t mere bribery, it is in my opinion blackmail
and I tried to make the distinction in a later mail to the group:

“I absolutely agree with your lobby group
argument. However, there is a difference between common or garden corruption be
it illegal (a million in banknotes for a permit) or legal (election campaign
donation from NRA) and outright blackmail be it illegal ($20,000 or I tell your
wife) or legal (DRC "safeguard"). The premise of blackmail is
different, it's the threat of removing the asset from your life permanently
(wife, copper project) if you don't do as I say. It's very different.”

Now be clear, mine is just one
opinion and the others in the experienced groupette of mining people either
agree with all, some or none of my position depending on their taste. But the
episode recently recorded by IVN in DRC, and then watching the way it got spun
by IVN to make it sound like a wonderful step forward instead of what it truly
is, legalized theft, is another in the set of reasons why I prefer not to be
exposed to that country.

VANCOUVER , Dec. 5, 2016 /CNW/ - Brazil Resources Inc. (the "Company" or "Brazil Resources")
(TSX-V: BRI; OTCQX: BRIZF) is pleased to announce that its board of
directors has approved a change of its name to "GoldMining Inc.",
effective December 6, 2016 , in order to better reflect its existing
business. The Company also announces that it will concurrently complete a
continuation (the "Continuation") under the Canada Business Corporations Act (the "CBCA").

Chairman
of the Board, Amir Adnani , stated: "We are pleased to change the name
of the Company to GoldMining Inc. to better reflect our diversified
project portfolio and strategy to build a leading gold acquisition and
development company throughout the Americas. With more than $21 million
cash on hand – and now, a name that better reflects our Company's
objectives – we plan to continue our exceptional growth with additional
low-cost acquisitions of high quality gold projects, to build value
throughout this period of a weak gold price environment."

The Company's common shares are expected to commence trading on the TSX Venture Exchange (the "TSX-V") under the new symbol "GOLD" and on the OTCQX International market (the "OTCQX") under the new symbol "GLDLF"
on December 7, 2016 . The Company expects that on the same date its
listed warrants will commence trading on the TSX-V under the new symbol
"GOLD.WT" and on the OTCQX under the new symbol "GOLWF".

In
connection with the Continuation, the Company will adopt new Articles
and By-Laws under the CBCA, copies of which are available under the
Company's profile at www.sedar.com
. The new By-Laws include, among other things, advance notice
provisions whereby a shareholder seeking to nominate a candidate for a
board seat must provide timely notice in proper form to the Company in
advance of meetings of shareholders where directors are to be elected.

The
Continuation, including the adoption of new Articles and By-Laws, and
related matters were approved by shareholders of the Company at its
annual general and special meeting held on November 23, 2016 .

The
CUSIP numbers assigned to the Company's common shares and listed
warrants under its new name will be 38149E101 and 38149E119,
respectively. No action will be required by existing shareholders or
holders of warrants with respect to the name change or the Continuation.
Certificates representing common shares and warrants of Brazil
Resources will not be affected by the name change or the Continuation
and will not need to be exchanged. The Company encourages any
shareholder or warrantholder concerns in this regard to be directed to
such person's broker or agent.

About GoldMining Inc./Brazil Resources Inc.

And this is what it means:

VANCOUVER , Dec. 5, 2016 /CNW/ - Brazil Resources Inc. (the "Company" or "Brazil Resources")
(TSX-V: BRI; OTCQX: BRIZF) is pleased to announce that its board of
directors has approved a change of its name to "TwatMining Inc.",
effective December 6, 2016 , in order to better reflect its existing
business. The Company also announces that it will concurrently complete a
continuation (the "Continuation") under the Canada Business Corporations Act (the "CBCA").

Chairman
of the Board, Amir Adnani , stated: "We are pleased to change the name
of the Company to TwatMining Inc. to better reflect the type of person we wish to attract as a shareholder."

The Company's common shares are expected to commence trading on the TSX Venture Exchange (the "TSX-V") under the new symbol "TWAT" and on the OTCQX International market (the "OTCQX") under the new symbol "TWTLF"
on December 7, 2016 . The Company expects that on the same date its
listed warrants will commence trading on the TSX-V under the new symbol
"TWAT.WTF" and on the OTCQX under the new symbol "TWTWTF".

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